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What’s In My Wallet? (Gulp…) 16 Credit Cards…

That sounds insane doesn’t it? If it helps, one of the cards is Lilly’s. Points and Miles aren’t for the faint of heart…and my credit score must be awful, right?

Looks good to me. Credit Cards are tools and I NEVER carry a balance. That’s the secret. Each Credit Card in my wallet is there for a reason and when needs change, so do the cards, sometimes…Here is the list and yearly fees:

Chase Sapphire Reserve $450

Amex Blue Business Plus $ 0

Marriott Business $99

IHG Hotels (Holiday Inn) $49

United Airlines Explorer $95

Delta Platinum $195

Hyatt Hotel $75

Amex Business Platinum $450

Amex Personal Platinum $450

Starwood (SPG) Business $95

Ritz-Carlton $450

Citi American Airlines $95

Amex Hilton Surpass $75

Amex Business Gold $175

Amex Business Plat-Lilly $450

Edward Jones World $0

That’s a long, scary and expensive looking list; and when you add up the fee’s, $3203.00 per year! Two important points: 1. Some of the above cards waived the 1st year fee and 2. It’s time to thin the herd before the fee comes due. So who stays and who goes? Each card offers benefits, some of which I don’t use. I’m only going to list what’s important to ME, not everything the card offers. Starting at the top:

Ritz-Bye. This is a hard one. $300 “any travel” credit. It’s that last $150 ($450 annual fee) I just can’t find the value. I don’t stay at Ritz-Carlton that often. I got the card because of the 3 free night promo. These are gone after the first year. I received HUGE value in the last year from that promo.

Edward Jones World card-Keep. It’s a lousy card but my oldest and has no fee. Good for credit report, not much more.

That’s 5-6 Byes and keep the rest. I’m not a fan of the airline cards as their benefits are very narrowly focused. They are most valuable to those seeking airline status. Having said all that, as each card hits it’s anniversary, I’ll call customer service who will occasionally waive fees or offer Points/Miles to keep you for another year.

With my current card choices, I rarely pay for airline tickets, lounge access, rental cars or hotel rooms. Whether I use Points, Miles or pay out of pocket depends on the math. Either way, I love having the option to choose.

Where do I go now? What is my next card? The Chase Ink has me salivating but alas, thanks to their 5/24 rule (loosely stated, 5 cards opened anywhere within last 24 months=No Go on Ink at Chase, Ugh) not an option today. So do your due diligence and let me know “what’s gonna be in your wallet?”